PRLog (Press Release) –
Apr 02, 2008 – Lancaster Suites Manila, located along Shaw Boulevard, Metro Manila, is a Brand Name Condotel Investment of Pacific Concord Properties Inc, and soon ready to accept guests in the Condo Hotel. Under the management of Lancaster Hotels, Land and Properties, Inc. [LHLPI] rental operations of LCRR were soft launched January 2008.
Beth Collingz, International Marketing Director of PLC Global an internet based sales and marketing company and lead marketing partners with Pacific Concord Properties, Inc., for the Lancaster Brand of Condotels in the Philippines, said the original or early bird Lancaster Suites preconstruction investors whom purchased at our pre-launch purchase price on the back of the depreciating US Dollar are now projected to earn upwards of 16%, an exceptional ROI on their investments in the first 6 months of operations from January 2008 and have seen a 90% appreciation in their real estate investment over the past 3 years.
Property is all about LOCATION said Collingz. Lancaster Suites, centrally located along Shaw Boulevard, Metro Manila some 200 meters from EDSA-Shaw Boulevard Light Rail Transit Station and the Ortigas Center business district, SM Mega Mall, Shangri-La Mall, Edsa Plaza Hotel, and the Asian Development Bank, San Miguel Corporation and Banco de Oro Head Office, provides guest access to its own unique Mini Mall feature with prerequisites of the urban dweller. Schools, hospitals, banks, restaurants, shopping malls, and leisure are all found within a few minutes from the Condotel. This ideal location will complement the Condotel operation since Lancaster Suites Manila will function as a condominium hotel – a preferred accommodation choice of businessmen and holiday travelers alike. Clients can either purchase Condotel Suites for investment purposes or lease the units on weekly, monthly or yearly basis.
For the soft launch, LHLPI will prepare special promotional room rates aimed at budget and business travelers whilst longer term discounted rates for monthly and yearly lease rentals are also to be made available. Clients wishing to purchase units may do so and we currently have a few Executive Studio Suite and One-Bedroom Suites available at Lancaster Suites at the current price said Collingz.
All units at Lancaster Suites have kitchen facilities. The standard unit price provides for the suite to be semi-finished but not fully furnished. Included in the current price are interior finishing’s such as tiled & semi-fitted bathrooms, bedrooms with simulated wood plank flooring, semi-fitted living and dining area and lower kitchen cabinets/work tops installed. Walls and ceilings are painted cement finish. A complete Condotel optional extra interior fit-out package including unit fittings and fixtures, furniture’s, furnishings, air-conditioning, lighting fixtures and appliances will be available towards the time the units are closer to being completed. Monthly condo dues or maintenance fees are currently around 80 pesos/square meter of the unit floor area/month.
Prospective or existing unit buyers may avail of up to 15 year mortgages for the purchase of all Lancaster Suites Tower I units with minimum equity of 30%. Banco De Oro (BDO) a commercial Bank in Metro Manila has just approved a buyer's financing plan for Lancaster Condotel units. The new financing scheme, a first providing Philippine Mortgages to Foreign Nationals residing overseas for Condotel units in the Philippines, is available to unit owners (Filipinos, Filipino-Americans and Foreign Nationals alike) whom are looking to purchase a Condo Hotel Suite or refinance their investments through BDO's Home Loan
Tower I Executive Studio Suites may be purchased with a Reservation Fee of -Pph- 25,000.00 then 30% Down Payment of -Pph-659,583.34 within 30 days and the resulting balance payable over 12 equal consecutive monthly installments of -Pph-128,252.32. Interest Free. For clients intending to enroll units in the Condo Hotel Rental Pool a complete Condotel Suite "Fit-Out" package including all required items of furniture's, furnishings, appliances, air-conditioning, kitchen utensils, dinnerware's, linens etc is now available for Studio Suites ranging from -Pph-403,715.00 said Collingz
US based investors at Lancaster Suites Manila can take advantage of their 401K or IRA allotments whilst UK clients can avail of retirement tax incentives for the purchase of condo units under their Self Invested Pension Program [SIPP].
Metro Manila remains a popular choice with international buyers and institutional investors. Collingz says clients tell her that it makes more sense to buy in a year-round vacation destinations and business centers. Lancaster - The Atrium Condotel developments by Pacific Concord Properties located in Shaw Boulevard, Metro Manila - fits the bill with all it offers to International buyers.
Accessibility is also a factor. “Flights from London to Manila, for example, average just 16 hours, add to that the many airline specials and it’s easy to see why this area is becoming an international community.” Unlike other offshore rental properties, where the rental market is largely seasonal, in the Philippines there is a strong market for rental properties year round. This gives buyers greater flexibility in choosing when to use and when to rent their property. The strong rental/second home market also has resulted in a proliferation of professional property managers and rental agents, making property ownership and rental easy. Pacific Concord Properties Inc with its flagship Lancaster Condotel Developments fit’s the bill enthuses Collingz
